Market Size of Non-steroidal Anti-Inflammatory Drugs (NSAIDs) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) Market Analysis
The market for non-steroidal anti-inflammatory drugs (NSAIDs) is expected to register a CAGR of 5.2% over the forecast period.
- The sudden outbreak of COVID-19 led to an increase in demand for NSAIDs, as they were used to manage COVID-19 infections. NSAIDs were in high demand among infected patients to reduce pain, fever, and inflammation caused by the SARS-CoV-2 virus infection, which notably impacted the market's growth during the pandemic. The demand for NSAIDs is expected to remain intact during the post-pandemic period due to the emergence of mutant strain infections of the SARS-CoV-2 virus, which will boost the market's growth over the next five years.
- The increasing burden of chronic pain and inflammatory diseases globally is expected to boost the market's growth over the forecast period, as NSAIDs are widely used in their treatment and management. There is a high prevalence and incidence rate of migraine globally, with Australia having one of the highest rates at 28% in 2021, according to a Migraine Australia report published in May 2022. The vast usage of NSAIDs in the pain management of musculoskeletal disorders is also expected to contribute to the growth of the market.
- Musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries, affecting about 1.71 billion people worldwide, according to WHO's key facts published in February 2021. In Great Britain, 470,000 people suffer from work-related musculoskeletal disorders that are new or long-standing in the year 2020-2021, according to Work-Related Musculoskeletal Disorders statistics. Therefore, the high incidence of musculoskeletal disorders is likely to lead to a growing demand for pain management drugs such as NSAIDs, contributing to the market's growth during the forecast period.
- However, the side effects caused by the use of NSAIDs are expected to restrain the market's growth during the forecast period.
